EVA-based Power Battery Enterprise Value Study

With the rapid take-off of the world economy,the objectives of corporate governance are constantly being reformed.The ultimate goal of modern corporate management has shifted from simple economic profit to maximization of the overall value of the enterprise today.As a result,the search for creative breakthroughs based on the study of corporate value has gradually become the focus of research and attention by scholars in the field.With the progress of corporate governance research,experts and researchers have also shifted their focus from corporate value promotion to comprehensive research on value assessment,driving and creation.As a leading enterprise in the domestic power battery industry,CATL is chosen as the case study in this paper,and its findings are more representative.The main research process of this paper is: after constructing a suitable EVA model according to the background of the power battery industry and the specific situation of CATL,the paper carefully selects some key adjustment items,calculates its EVA and analyzes its enterprise value status.In the light of further analysis,the paper digs deeply into the key factors affecting CATL’s enterprise value,and explores CATL’s “trumps to success”,which gives concrete and implementable suggestions for effective improvement of CATL’s problems in the process of enterprise management decisions.The conclusions of this paper are as follows:(1)The enterprise value of CATL based on EVA is acceptably different from the stock price on the valuation benchmark date,which has a brighter prospect.(2)The factors promoting the enterprise value of CATL conclude mainly the scale of operating revenue,period expenses and R&D investment.(3)The factors limiting the further improvement of the enterprise value of CATL conclude mainly the debt financing ratio and the recovery of accounts receivable.